Gemspring Capital has acquired TMP Worldwide, a provider of recruitment marketing software and digital services, from VSS which acquired the company from Monster Worldwide in 2006.
TMP Worldwide is a provider of software, strategy and creative product that is used to by companies to hire employees, and by people to explore career opportunities. The company’s core product is its TalentBrew software platform, a subscription-based, multi-tenant software platform that integrates candidate job search, employer branding, recruiter tools and advanced analytics.
TMP is headquartered in New York and has 14 offices across the United States, as well as international locations in Brazil, Canada, Germany, France, the United Kingdom, India and Singapore (www.tmp.com).
“We are excited to partner with Gemspring on the next phase of growth for TMP,” said Michelle Abbey, CEO of TMP Worldwide. “As the digital recruiting landscape continues to evolve, we remain committed to the innovation, client service and technology solutions needed to be the leader in today’s competitive talent market. This new partnership will provide additional resources and support to help serve our clients’ needs.” Ms. Abbey and her management team will continue to lead the business under Gemspring ownership and have made a significant investment in the company.
Gemspring invests in companies that have revenues from $25 million to $250 million. Sectors of interest include business and industrial services; distribution and logistics; healthcare services; specialty manufacturing; and media, technology and software. The firm, which held a final closing of its debut fund in November 2016 with $350 million of capital commitments, is based in Westport, CT (www.gemspring.com).
“TMP Worldwide is an extremely attractive platform opportunity given its market leadership, differentiated technology, commitment to customers and the strength of its deep management team,” said Thomas Zanios, a Managing Director at Gemspring. “The company’s integrated software and digital services provide a full service, high value-added solution to the largest and most sophisticated employers. We believe Michelle and her team have built the best recruitment marketing software and platform in a fast-growing industry, and look forward to partnering with them to continue TMP’s history of growth and customer service.”
“TMP is on the leading edge as sophisticated recruiting organizations look to understand and improve the effectiveness of their marketing spend,” said Josh Miller, a Vice President at Gemspring. “The capabilities developed by TMP leverage best-in-class technologies, industry-leading scale and unparalleled thought leadership to drive meaningful improvements in key performance indicators for recruiting organizations worldwide.”
VSS (formerly Veronis Suhler Stevenson) makes control and non-control investments from $10 million to $50 million in companies with $5 million to $25 million of EBITDA that are active in the information, healthcare services, tech-enabled business services, and education industries. Investments can take the form of mezzanine debt, subordinated debt, preferred and common equity. VSS is based in New York (www.vss.com).
Raymond James was the financial advisor to VSS and TMP Worldwide on this transaction.
© 2018 Private Equity Professional | May 8, 2018
